New York Laws
Article 34 - Insurance Contracts-Property/casualty
3449 - Wireless Communications Equipment Insurance Policies.

(b) (1) A group policy, and certificates issued thereunder, of
wireless communications equipment insurance shall not be subject to the
provisions of section three thousand four hundred twenty-five or three
thousand four hundred twenty-six of this article.
(2) An insurer shall not terminate or otherwise change the terms and
conditions of a group policy of wireless communications equipment
insurance, and certificates issued thereunder, except upon providing the
policyholder and certificate holders with at least sixty days notice. If
the insurer changes the terms and conditions, then the insurer shall
provide the policyholder with a revised policy or endorsement and each
certificate holder with a revised certificate or endorsement, an updated
brochure or facsimile thereof and an explanation of the changes.
(3) Notwithstanding paragraph two of this subsection, an insurer may
terminate a certificate upon fifteen days notice for:
(A) nonpayment of premium; or
(B) discovery of fraud or material misrepresentation in obtaining the
certificate or in the presentation of a claim thereunder.
(4) Notwithstanding paragraph two of this subsection, an insurer may
automatically terminate a certificate if the certificate holder:
(A) ceases to have active telecommunications service with the wireless
communications equipment vendor; or
(B) exhausts the aggregate limit of liability, if any, under the
certificate and the insurer sends notice of termination to the
certificate holder within fifteen business days after exhaustion of the
limit. However, if notice is not timely sent, coverage shall continue
notwithstanding the aggregate limit of liability until the insurer sends
notice of termination to the certificate holder.
(5) Notwithstanding the provisions of subparagraph (B) of paragraph
four of this subsection, upon the request of a certificate holder, the
certificate holder's coverage shall be eligible for reinstatement not
more than twelve months following the date of exhaustion of the coverage
limit in accordance with the terms of the policy and subject to the
enrollment criteria then applicable to prospective certificate holders
generally.
(6) Where the group policy is terminated by the policyholder, the
policyholder shall mail or deliver written notice to each certificate
holder advising the certificate holder of the termination of the group
policy and the effective date of termination. The written notice shall
be mailed or delivered to the certificate holder at least thirty days
prior to the termination.
(c) Whenever notice is required pursuant to this section, it shall be
in writing and mailed or delivered to the policyholder at the
policyholder's mailing address and to affected certificate holders at
the certificate holders' last known mailing addresses on file with the
insurer. Every notice of termination shall specify the reason or reasons
for termination.
(d) (1) Notwithstanding subsection (c) of this section, an insurer
shall not be required to give notice of termination to the certificate
holder if the insurer has been advised by either the policyholder or
another insurer that substantially similar coverage has been obtained
from the other insurer without lapse of coverage.
(2) A policyholder shall not be required to give notice of termination
to a certificate holder if substantially similar coverage has been
obtained from another insurer without lapse of coverage.
(e) The superintendent may promulgate regulations regarding policies
of wireless communications equipment insurance, including, but not
limited to, regulations governing policy terms and conditions, and may
establish other reasonable limitations.

Structure New York Laws